By Sheri Kasprzak
New York, March 3 - The Illinois Finance Authority sold $132.225 million of series 2011 revenue bonds for CHF-DeKalb II, LLC on behalf of Northern Illinois University, said a pricing sheet.
The bonds (Baa3) were sold through RBC Capital Markets LLC.
The bonds are due 2020 to 2021 with term bonds due in 2024, 2031 and 2043. The serial coupons range from 5.125% to 5.75%. The 2024 bonds have a 6% coupon priced at 98.855, and the 2031 bonds have a 6.625% coupon priced at 98.615. The 2043 bonds have a 6.875% coupon priced at 98.398.
Proceeds will be used by CHF-DeKalb to construct and furnish on-campus student housing for freshmen, as well as a community center with a full-service dining facility at the Northern Illinois University.
| Issuer: | Illinois Finance Authority/CHF-DeKalb II, LLC for Northern Illinois University
|
| Issue: | Series 2011 revenue bonds
|
| Amount: | $132.225 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Rating: | Moody's: Baa3
|
| Pricing date: | March 3
|
| Settlement date: | March 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.305 million | 2020 | Serial | 5.125% | 100
|
| $2.395 million | 2021 | Serial | 5.75% | 103.191
|
| $4.5 million | 2024 | Term | 6% | 98.855
|
| $13.05 million | 2031 | Term | 6.625% | 98.615
|
| $101.975 million | 2043 | Term | 6.875% | 98.398
|
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